Qilian International sets price for $25m listing, potentially China's first US IPO in 2021

Source: Jan Antonin Kolar/Unsplash

Qilian International, a Chinese provider of pharmaceutical and chemical products, has set the price for its initial public offering (IPO) in the US on Tuesday to raise $25 million.

China-based Qilian plans to offer 5 million ordinary shares at an offering price of $5 per share, said the firm in a statement. Its ordinary shares have been approved for listing on the Nasdaq Global Market and are expected to commence trading on January 12 under the ticker “QLI.” New York-based investment bank Univest Securities serves as the lead bookrunner of the IPO.

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